Energy Conversion Devices
|This article is outdated. (March 2013)|
|Traded as||NASDAQ: ENER|
|Founder(s)||Stanford R. Ovshinsky|
|Headquarters||Auburn Hills, Michigan, USA|
|Revenue||US$316 million (FY 2009)|
|Operating income||US$28.2 million (FY 2009)|
|Net income||US$12.5 Million (FY 2009)|
|Total assets||US$1.07 billion (FY 2009)|
|Total equity||US$662 million (FY 2009)|
Energy Conversion Devices is an American manufacturer of flexible thin film photovoltaic (PV) laminates/panels/technology, and a producer of batteries and other renewable energy related products. ECD is headquartered in Rochester Hills, Michigan.
Through its wholly owned subsidiary United Solar Ovonic, LLC (also called Uni-Solar) located in Auburn Hills, Michigan, Energy Conversion Devices is the world’s largest producer of flexible solar panels with a light, durable product that provides more total energy production than any other solar panel on the planet.
On February 14, 2012, Energy Conversion Devices, Inc. and its subsidiaries, United Solar Ovonic LLC and Solar Integrated Technologies, Inc. filed for bankruptcy in the U.S. United States District Court for the Eastern District of Michigan.
Energy Conversion Devices, Inc. (ECD), through its United Solar Ovonic (USO) subsidiary, is engaged in building-integrated and rooftop photovoltaics (PV). The Company manufactures, sells and installs thin-film solar laminates that convert sunlight to clean, renewable energy using technology.
The Company operates in two segments: United Solar Ovonic and Ovonic Materials. The Company’s USO segment consists of its wholly owned subsidiary, United Solar Ovonic LLC, which is engaged in manufacturing of PV laminates designed to be integrated directly with roofing materials. The Ovonic Materials segment invents, designs and develops materials and products based on ECD’s materials science technology. ECD, through its subsidiaries, commercializes materials, products and production processes for the alternative energy generation (primarily solar energy), energy storage and information technology markets.
Ovonics (coined from "Ovshinsky" and "electronics") is a field of electronics that uses materials able to change from an electrically nonconducting state to a semiconducting state shown by glass of special composition upon application of a certain minimum voltage. The most important example is phase change memory.
Scientist-entrepreneur Stanford R. Ovshinsky pioneered the field and coined the term after he founded Energy Conversion Devices, Inc. (ECD) in 1960 to further his research in amorphous semiconductors. ECD Ovonics works to create non-polluting, non-climate-changing energy sources.
Energy Conversion Devices, Inc. (ECD):
- World’s largest producer of flexible solar panels.
- Current activity includes NiMH, solid-state hydrogen fuel storage, regenerative fuel cells, and solar.
- Founder Stanford Ovshinsky was honored as "Hero for the planet" by Time Magazine in 1999, and inducted into the U.S.-based Solar Energy Hall of Fame in 2005.
- ECD Ovonics stock is listed on the NASDAQ with symbol ENER and on the Frankfurt Stock Exchange.
ECD Ovonics is divided into three parts, and has full or partial ownership of several other companies.
- Energy Generation
- United Solar Ovonic Corp (100% owned): flexible photovoltaic laminates producer
- Solar Integrated, Inc. (100% owned): Solar installations administration, system design, engineering, construction, operations and maintenance
- Ovonic Fuel Cell Company LLC (100% owned)
- Energy Storage
- Information Technology
- Ovonic Media (100% owned)
- Ovonyx Inc. (39.5% owned by ECD)
- Ovonic Cognitive Computer (95% owned by ECD, 5% by Ovonyx)
United Solar Ovonic Corporation
The United Solar Ovonic Corporation is the world's largest (2008) manufacturer of photovoltaic laminates. In the broader category of thin film solar cells, as of 2007 the company was the second-largest U.S. manufacturer, after First Solar. The solar cells are made of 11 triple junction amorphous silicon solar cells connected in series and have 11–13% in conversion efficiency. The laminate encapsulation material is durable ETFE high light-transmissive polymer. The laminates are sold under the trademark "UNI-SOLAR".
Manufacturing and global headquarters are in Auburn Hills, Michigan.
Much of the production is sold to manufacturers and suppliers of building envelope elements, such as metal roofs (Rheinzink, Corus "Kalzip") or polymer roof membranes (Alwitra, Solar Integrated technologies).
Solar Integrated, Inc.
Solar Integrated, Inc. is a wholly owned subsidiary of Energy Conversion Devices, Inc. and as an EPC contractor (Engineering, Procurement, Construction), Solar Integrated takes responsibility for the whole supply chain from administration, system design and engineering to purchasing, construction, operations and maintenance of Uni-Solar products.
In 1994, General Motors acquired a controlling interest in Ovonics's battery development and manufacturing, including patents controlling the manufacturing of large nickel metal hydride (NiMH) batteries.
On October 10, 2001, Texaco purchased General Motors' share in GM Ovonics, and Chevron completed its acquisition of Texaco six days later. In 2003, Texaco Ovonics Battery Systems was restructured into Cobasys, a 50/50 joint venture between Chevron and Energy Conversion Devices (ECD) Ovonics.
In her book, Plug-in Hybrids: The Cars that Will Recharge America, published in February 2007, Sherry Boschert argues that large-format NiMH batteries are commercially viable but that Cobasys refuses to sell or license them to small companies or individuals. Boschert reveals that Cobasys accepts only very large orders for these batteries. When Boschert conducted her research, major auto makers showed little interest in NiMH batteries. Since no other companies were capable of producing large orders, Cobasys was not manufacturing any NiMH batteries for automotive purposes.
In December 2006, Cobasys and General Motors announced that they had signed a contract under which Cobasys would provide NiMH batteries for the Saturn Aura hybrid sedan. Although announced, the car was later scrapped and Saturn has been shut down. In March 2007, General Motors announced that it would use Cobasys NiMH batteries in the 2008 Chevrolet Malibu hybrid as well. Cobasys remains unwilling to produce and sell NiMH batteries in smaller quantities to individuals interested in building or retrofitting their own plug-in hybrid electric vehicles (PHEVs). In 2009 Mercedes had planned to release an ML450 hybrid SUV in the United States, but Chevron, the parent company, pulled funding from Cobasys and the batteries were not delivered. On July 14, 2009 Cobasys was bought by Samsung-Bosch. Although mistaken as owning the intellectual property to the large NiMH battery packs, according to CEO Tom Neslage they merely have an exclusive licensing deal with Chevron.
In February 2012, ECD sold its majority owned subsidiary, Ovonic Battery Company to BASF Corporation for the gross purchase price of $58 million in cash before transaction fees, minority participations, and working capital and other adjustments.
- Cadmium telluride photovoltaics
- Copper indium gallium selenide (CIGS)
- International Electrotechnical Commission (IEC)
- Renewable energy companies on the stock exchange
- Photovoltaic power stations
- Prometheus Institute
- Sharp Solar
- SolarCity (First Solar leader)
- Solar power in Germany
- Underwriters Laboratories (UL)
- 5N Plus Inc.
References and notes
- Energy Conversion Devices' annual income statement via Wikinvest
- Energy Conversion Devices' annual balance sheet via Wikinvest
- Energy Conversion Devices (ECD Ovonics) Core Businesses & Strategic Alliances. ECD Ovonics is a leader in the fields of alternative energy generation and storage, and advanced information technologies
- http://www.nrel.gov/pv/thin_film/docs/IEEE08off.pdf Paper from the U.S. National Renewable Energy Laboratory
- http://www.uni-solar.com/interior.asp?id=94 Unisolar list of strategic partners
- Roberson, J. (March 14, 2007) "Supplier Cobasys exploring more hybrid batteries" Detroit Free Press
- Boschert, S. (2007) Plug-in Hybrids: The Cars that Will Recharge America (Gabriola Island, BC: New Society Publishers) ISBN 978-0-86571-571-4
- Abuelsamid, S. (December 6, 2006) "Cobasys providing NiMH batteries for Saturn Aura hybrid" Autobloggreen.com